Credit, Collections & Insolvency News
Here is an overview of The Money Charity’s latest statistics for December 2021 Personal debt in the UK People in the UK owed £1,749.9 billion at the end of October 2021. The average total debt per household, including mortgages, was £62,965 and per adult was £33,086, around 108.3% of average earnings. Net mortgage lending rose by…
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New research Opinium has found that 8% of retired people are concerned about being able to pay bills. The research found that 41% said being able to pay their bills in retirement was a realistic goal. Worryingly 8% did not think it was a realistic prospect, whilst 11% did not think it was realistic that…
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New analysis by the Centre for Economics and Business Research (CEBR) suggests a typical UK family will spend £1,700 more per year on household costs in 2022. The forecast for the BBC’s Panorama says a family of two adults and two children is set to spend £33.60 more per week compared with December 2020 due…
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Ofcom has fined telecoms operator, O2, £150,000 for failing to provide complete and accurate information to us during our investigation into the company’s billing issues. In a statement, Ofcom said “We regularly make statutory requests for information from companies as part of our work to protect consumers. This evidence is vital to our decision-making, and…
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Here is an overview of The Money Charity’s latest statistics for November 2021 Personal debt in the UK People in the UK owed £1,749.2 billion at the end of September 2021. The average total debt per household, including mortgages, was £62,938 and per adult was £33,072, around 108.6% of average earnings. Net mortgage lending rose by…
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Credit Connect’s hosted its inaugural Credit & Collections Technology Think Tank at the beginning of November in Manchester which saw credit and collections strategies and the impact of the pandemic discussed by sixteen professionals from a variety of industry sectors at the Midland Hotel in Manchester. The themes of credit and collections risk, affordability, vulnerability…
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Here is an overview of The Money Charity’s latest statistics for October 2021 Personal debt in the UK People in the UK owed £1,745.7 billion at the end of August 2021. The average total debt per household, including mortgages, was £62,813 and per adult was £33,006, around 108.9% of average earnings. Net mortgage lending rose by…
Read moreA new report by Aryza has found an increase in the numberstruggling to manage their personal finances. Drawing on a dataset of nearly 300,000 insolvent UK consumers currently struggling with their personal finances, the company’s latest debt statistics report found the average debt level across the UK to be £17,823. This is compared to £15,924…
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Credit Connect has confirmed the line-up for next week’s Credit & Collections Technology Awards which takes place at the Midland Hotel in Manchester next Thursday (4th November). The awards are judged by a panel of industry experts who have reviewed technological excellence in four different categories sections: creditor and lender, collections and recoveries, applied technology, and…
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A new report is urging the Government to take the lead in supporting consumers to recover financially from the pandemic. Innovation Foundation Nesta has commissioned Guaranteeing a Rapid Recovery – a report from the Social Market Foundation (SMF) which sets a series of recommendations for government and innovators to support consumers as they recover from the pandemic. The research…
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The finalists for the fifth annual Credit & Collections Technology Awards, the UK’s celebration of tech innovators in credit and collections, have been revealed. The Credit & Collections Technology Awards, organised by Credit Connect Media will host the Awards ceremony as a face to face event at the Midland Hotel, Manchester on Thursday 4th November. This year’s…
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Here is an overview of The Money Charity’s latest statistics for July 2021 Personal debt in the UK People in the UK owed £1,721.3 billion at the end of May 2021. The average total debt per household, including mortgages, was £61,933 and per adult was £32,544, around 108.7% of average earnings. Net mortgage lending rose by…
Read moreNew Ofcom data has found that around two million households are struggling to afford internet access. The research shows that many people on low incomes are struggling to pay, and not all are getting the support they need from telecoms companies and that there is considerable variation in the support available for customers who may be…
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